Lifezone Metals Ltd

Lifezone is organized into business units based on the main types of activities and has three reportable operating segments: Metals Extraction, Intellectual Property ("IP"), and Corporate. The company's ongoing activities include advancing the development of its Kabanga Nickel Project and a PGM (Platinum Group Metals) recycling partnership with Glencore. Most expenses to date are tied to headcount, exploration and evaluation activity, and laboratory costs. The company seeks to expand its patent portfolio, continue to invest in research and development activities, and expand the market penetration of its Hydromet Technology. Lifezone also continues to invest in and develop the Kabanga Nickel Project. For the year ended December 31, 2025, Lifezone reported revenue of $1,057,043, a gross profit of $523,448, and an operating loss of $18,415,486. The loss for the year was $14,106,837. In 2024, revenue was $140,522, gross profit was $53,650, and the operating loss was $48,274,621. The loss for 2024 was $47,136,333. In 2023, revenue was $1,477,826, gross profit was $723,912, and the operating loss was $365,174,650. The loss for 2023 was $364,663,392.